Record Drops in Dow and S&P

With volatility continuing to soar, the Dow and S&P were on track for their biggest point losses. Prior to today, the biggest point drops for the Dow & S&P was after the 9/11 attacks in 2001. All the major indices were down over 6% for the first time since 1998. The VIX is poised to close at levels not seen since 1988.

Dow biggest point drops

9/17/01 down 685

4/14/00 down 618

10/27/97 down 554

8/31/98 down 513

10/19/87 down 508

S&P biggest point drops

4/14/00 down 83

8/31/98 down 70

10/27/97 down 65

9/15/08 down 59

10/19/87 down 57

NASDAQ biggest point drops

4/14/00 down 356

4/3/00 down 349

4/12/00 down 286

4/10/00 down 258

1/4/00 down 230

Leading the Dow down today are GM, Bank of America, and American Express - all down over 10%. Leading the S&P's plunge are Wachovia and Sovereign Bancorp, both down over 70%!